Requires the plan to: (1) describe the roles and responsibilities of the Administrator, the Directors of the Offices of Small and Disadvantaged Business Utilization, the Small Business Procurement Advisory Council, the Administrator of the Office of Federal Procurement Policy, the Administrator of the General Services Administration, the senior procurement executives, and Chief Acquisition Officers in implementing the plan and contributing to the required annual report; (2) make necessary changes to policies and procedures, including personnel training procedures, on proper identification and mitigation of contract bundling and consolidation; (3) establish consequences for failure to properly identify contracts as bundled or consolidated; (4) establish requirements for periodic and statistically valid data verification and validation; and (5) assign clear data verification responsibilities.

Directs the SBA Administrator to provide to the House and Senate small business committees annually certification of the accuracy and completeness of data reported on bundled and consolidated contracts.

Directs the Comptroller General (GAO) to: (1) initiate a study on the effectiveness of the plan that assesses whether contracts were accurately labeled, and (2) report to the small business committees on study results and on how to improve the quality of data reported on bundled and consolidated contracts.

Requires the plan to: (1) describe the roles and responsibilities of the Administrator, the Directors of the Offices of Small and Disadvantaged Business Utilization, the Small Business Procurement Advisory Council, the Administrator of the Office of Federal Procurement Policy, the Administrator of the General Services Administration, the senior procurement executives, and Chief Acquisition Officers in implementing the plan and contributing to the annual report; (2) make necessary changes to policies and procedures on proper identification and mitigation of contract bundling and consolidation, and to training procedures of relevant personnel on proper identification and mitigation of contract bundling and consolidation; (3) establish consequences for failure to properly identify contracts as bundled or consolidated; (4) establish requirements for periodic and statistically valid data verification and validation; and (5) assign clear data verification responsibilities. Requires the finalized plan to be presented to the House and Senate small business committees by not later than 90 days prior to implementation.

Directs the Administrator to: (1) implement the plan by the first day of FY2017, and (2) annually provide to such committees certification of the accuracy and completeness of data reported on bundled and consolidated contracts.

Directs the Comptroller General (GAO): (1) to initiate a study by the first day of FY2018 on the effectiveness of the plan that shall assess whether contracts were accurately labeled as bundled or consolidated; and (2) not later than 12 months after initiating the study, to report to the small business committees on the results from such study and, if warranted, any recommendations on how to improve the quality of data reported on bundled and consolidated contracts.